Originally Posted by
Bonny
I care! Please explain in laymens language so a person can understand what you are saying.
Just to add a little to what LH said....
Income tax = What working stiffs understand. 
A tax paid on money you earn in the traditional way, generally a salary paid by an employer to an employee.
Capital Gains tax = You buy something (stocks, buildings, companies, etc....) and sell it for a profit. You invested capital and made a gain on that investment by selling it for a higher price than you paid.
"Unlike most of you, I am not a nut."
- Homer Simpson
"If the enemy opens the door, you must race in."
- Sun Tzu - Art of War
Reply With Quote
Bookmarks